Tech

Egypt’s venture capital firm, Acasia Ventures opens office in Lagos

Published

1 year ago

June 26, 2023

Egypt’s venture capital platform, Acasia Ventures, has expanded its operations into the West African market by establishing an office in Lagos, Nigeria.

The Cairo-based group, which is the investment arm of Acasia Group, according to its General Partner, Biola Alabi, opened the Nigerian office in a bid to extend its “reach across the African continent and connect with founders and stakeholders on the ground.”

Formerly known as “Cairo Angels” until announcing a rebrand and name-change last year, the Acasia Group has been expanding its scope to cover the whole of the continent, and recently invested in the likes of Nigerian logistics startup, Fez Delivery and Egyptian fintech company, Balad, Alabi said in a statement.

“We have our heritage in Egypt, but we really believe in the future of the whole continent. That is why our new office in Lagos should provide a platform to deepen our relationships with the market, by having an in-person presence in Nigeria,” said Alabi.

“As we’ve seen in previous economic crises, these are the times when companies that will shape the future for the better are built, and investing in those companies today is how we plan to contribute to Africa’s economic and social development.

“Our new office will be a destination that founders and stakeholders can come to and engage with us, and being at the heart of Impact Hub allows us to be at the center of the entrepreneurship ecosystem in the country.

“In opening the Lagos office, Acasia Ventures is demonstrating its commitment to the continent and West Africa specifically,” Alabi said.

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Tech

Kenya’s ticketing startup BuuPass partners Flexpay for flexible travel payments

Published

1 day ago

December 19, 2024

Isaac Dachen

Kenyan digital ticketing startup, BuuPass, has entered into a partnership with goal-based savings platform, Flexpay, to offer customers flexible payment plans ahead of holiday travels as well as simplify travel planning and ease the financial burden of holiday travel for Kenyans.

Co-founder and CEO at Buupass, Sonia Kabra, who unveiled the package at a press conference, said the collaboration between the two platforms will allow travellers to save for their journeys in manageable, interest-free installments over four to 12 weeks.

“Travelers can select their travel dates, book tickets, and pay a small deposit upfront, with the remaining balance spread across weekly or monthly payments,” she said.

“This approach offers a stress-free way for families and large groups to secure their tickets early, helping them avoid last-minute price hikes as fares are locked in.

“By partnering with Flexpay, we’re giving travelers the flexibility to budget for their trips in advance. This initiative aligns with our mission to make travel accessible to everyone, providing a solution that meets customers where they are financially,” said Kabra.

Also speaking at the event, Richard Machomba, CEO and founder of Flexpay, said:

“Flexpay’s mission is to empower individuals by providing accessible financial solutions that make it easier for them to achieve their financial goals.

“By partnering with BuuPass, we’re making travel more accessible and stress-free for Kenyans, especially during the holiday season when expenses can be overwhelming,” Machomba added.

Founded in 2016 by Kabra and Wyclife Omondi, BuuPass is a B2B2C mobility marketplace that enables users to search, compare, and book travel tickets via web, app, or USSD, while its SaaS platform helps bus operators manage their operations, inventory, and sales.

FlexPay, on the other hand, is an online and offline payment gateway that allows merchants to offer interest-free targeted savings to their customers in Africa.

Tech

DR Congo sues tech giant Apple over illegal mineral exploitation

Published

2 days ago

December 18, 2024

Isaac Dachen

The Democratic Republic of Congo (DRC), has filed a criminal case against the European subsidiaries of tech giant, Apple, accusing them of illegal mineral exploitation and allegedly using “blood minerals” in its supply chain.

In the suit filed on Tuesday, the DRC alleges that Apple has bought contraband supplies from the country’s conflict-ladden east and Rwanda, zones in which it allege the materials are mined illegally and then integrated into global supply chains before ending up in tech devices.

The DRC suit specifically mentioned Apple subsidiaries in France and Belgium, accusing the tech giant of using conflict minerals in its supply chain.

The DRC is a major source of tin, tantalum, and tungsten which are used in electronic devices, with some mines controlled by armed groups responsible for human rights violations.

International lawyers representing the African country’s government have accused Apple’s local subsidiaries of taking these minerals from conflict areas and laundering them through international supply chains, with one lawyer telling journalists that Belgium had a moral duty to act given its history of exploiting the country’s resources under colonial rule.

However, in its response, Apple claims it conducts supplier audits and does not directly source primary minerals.

https://www.thenews.com.pk/print/1262670-dr-congo-sues-apple-over-alleged-illegal-mineral-exploitation